Ethereum struggled to regain the $ 4000 mark as the coin traded sideways in recent days. It was close to its immediate low of $ 3,715.04. Altcoins such as IOTA and Compound that have rallied since the beginning of the month, encountered a pause as they briefly declined on their respective charts. IOTA fell for the low price of $ 1.70 as the compound approached its immediate support of $ 456.76.
Ethereum The 4 hour chart shows a series of small candles implying consolidation in the last few days. In the last 24 hours, ETH lost 0.5% and was trading at $ 3,756.04.
The altcoin held near its immediate support line of $ 3715.04. The additional support level stood at $ 3,387.05, which also marked the weekly low price point for the coin.
The Ethereum candlestick saw below the 4-hour 20 SMA, suggesting that the price was in favor of sellers. In correspondence, Awesome oscillator showed a buy signal.
Relative Strength Index it was also below the average line as the buying force had fallen. The rising red bars were visible on the MACD histograms. In the event that Ethereum breaks out of its consolidation to the upside, the overhead resistance stood at $ 4,033.45.
IOTA’s spectacular rally came to a halt when the coin showed a southward move on its charts. It was trading at $ 1.69 as it fell through its $ 1.70 support line. The next big drop could cause IOTA to trade near the $ 1.34 support line, after which it could revisit its weekly low of $ 0.95.
The indicators gave a bearish signal. Awesome oscillator observed red signal bars. the Relative Strength Index it was right in the middle of the line after buying pressure revived slightly.
Bollinger Bands they have been convergent, which means that market volatility could remain low during the next trading sessions. If the buying force recovers, prices could push to fall above the $ 1.70 mark and then retest its multi-month high of $ 2.
Composite was trading at $ 462.55 after its uptrend broke, for the past 48 hours. The technical chart for the asset pointed towards negative price momentum.
It was seen approaching its immediate support level of $ 456.76. A drop below $ 456.76 would mean that COMP would trade near its weekly lows of $ 430.06. Awesome oscillator flashing red signal bars. Relative Strength Index it was parked below its midline as buying pressure eased.
Chaikin money flow it also remained below its median line as a result of lower capital inflows. The recovery in the buying force could cause prices to fall above the price ceiling of $ 488.80. Successfully trading above the $ 488.80 mark would push prices back to the multi-month high of $ 519.37.
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